CUET Preparation Today
A sum of money becomes ₹2,000 in 3 years and ₹2,400 in 4 years, at the certain rate of yearly compound interest in case of annual compounding. Find the yearly rate of compound interest. |
20% 10% 15% 25% |
20% |
3rd year 4th year 2000 2400 Difference = 400 R% = \(\frac{400 × 100}{2000}\) = 20% |
